Lavaca Capital LLC lifted its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 323.8% in the 1st quarter, HoldingsChannel reports. The firm owned 4,009 shares of the technology company’s stock after acquiring an additional 3,063 shares during the period. Lavaca Capital LLC’s holdings in International Business Machines were worth $972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after purchasing an additional 1,439,824 shares during the period. State Street Corp increased its position in International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after buying an additional 518,321 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after buying an additional 336,069 shares during the period. Capital World Investors raised its stake in shares of International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Norges Bank purchased a new position in shares of International Business Machines during the 4th quarter valued at about $2,446,429,000. 58.96% of the stock is owned by institutional investors.
Key International Business Machines News
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: IBM’s earnings matched Wall Street’s EPS estimate, and the company continues to emphasize AI-driven productivity, quantum computing, and strong free-cash-flow generation. IBM (IBM) Matches Q2 Earnings Estimates
- Neutral Sentiment: After the release, IBM shares saw some after-hours recovery as investors focused on long-term AI and quantum initiatives rather than the immediate headline miss. IBM just cut its outlook. Why its stock is bouncing anyway.
- Negative Sentiment: IBM lowered full-year revenue guidance and posted weaker sales than expected, with mainframe revenue notably under pressure, raising concerns about near-term growth. IBM Lowers Its Growth Outlook as Sales of Data Center Mainframes Sink 42%
- Negative Sentiment: Multiple law firms announced securities-fraud investigations following IBM’s sharp stock decline and guidance cut, adding an overhang for investors. IBM Investigated by the Portnoy Law Firm
International Business Machines Price Performance
International Business Machines (NYSE:IBM – Get Free Report) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $17.48 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $2.80 earnings per share. As a group, analysts expect that International Business Machines Corporation will post 12.19 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on IBM shares. Piper Sandler upgraded International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Stifel Nicolaus decreased their target price on shares of International Business Machines from $290.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday. Argus lowered their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Jefferies Financial Group dropped their price target on shares of International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Wolfe Research cut shares of International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $278.68.
Check Out Our Latest Analysis on IBM
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.
IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.
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